As a contractor or developer for construction projects, producing outcomes that align with project goals and budgets is part of your job. But sometimes, things do not go as planned and you may find yourself involved in the middle of a dispute.
According to The Associate General Contractors of America, construction is a major industry in the U.S. that produces nearly $1.8 trillion in structures on an annual basis, making disputes a likely occurrence. As you prepare to resolve the construction dispute with another party, the following steps can help you prepare for the legal process.
Exchange necessary information
Ensure that when proceedings occur, all major decision-makers are in the room. And before any meeting between disputing parties, distribute all necessary information to those on your side, so they can make informed decisions during legal proceedings.
Formulate an acceptable settlement range
Before legal proceedings begin, determine what kind of settlement you would like to see. Although there may be an ideal settlement you would like to achieve, figure out what your organization thinks is a fair settlement range.
Resolving a construction dispute can take time and many meetings and proceedings may occur. Try to stay positive as the dispute resolution unfolds and remain in a position and state of mind to negotiate until both parties can reach a settlement.
The dispute resolution process for each individual construction issue can vary greatly. As your company prepares for the dispute resolution process, determine what steps your organization can take to prevent similar disputes from occurring in the first place to prevent the interests of future construction projects.